Wednesday 24 / April / 2024
Muscat: The Capital Market Authority has added the condition of vehicle contact in order to obtain compensation from the Guarantee Fund for the Assistance of Persons with Bodily Injury, the heirs of the deceased, and compensation for material damage in vehicle accidents.
The Capital Market Authority issued a decision to amend some provisions of the Guarantee Fund for the Assistance of Persons with Physical Injuries and the Heirs of the Deceased and to compensate for material damages, stating that now the following will be required to obtain assistance from the fund:
1- That there was contact between the vehicles causing the accident or between them and the injured (this condition was not present in the law before the amendment), and that the accident results in any of the following cases:
Death, bodily injury or material damage, provided that its value is not less than OMR 500, and the total expenses for treatment and first aid are not less than OMR 500.
Article 11 states: “The heirs of the deceased or injured, or their representative, must submit a request for assistance or compensation to the committee according to the form prepared for this, provided that the request includes all data and information related to the claim.”
The decision added, in Article 11, regarding the limits of the amounts of assistance or compensation borne by the Fund, to be as follows:
a: The percentage of permanent disability according to the medical report, multiplied by OMR 30,000.
b- The value of the expenses of treating physical injuries sustained by the injured person from the accident, with a maximum of OMR 5,000 for each injured person.
c - The value of the first aid expenses provided to the injured person from the accident, with a maximum of OMR 400 for each injured person.
